The U.S. Small Business Administration is awarding $28.6 billion in funding through the Restaurant Revitalization Program to restaurants, bars and business that serve food or drinks. This program will provide restaurants with funding equal to their pandemic-related revenue loss.
Recipients are not required to repay the funding, so long as funds are used for eligible uses no later than March 11, 2023. Eligible uses include payroll costs, mortgage or rent payments, debt, utility payments, operating expenses and more.
Application Window Now Open
The application window opened Monday, May 3, 2021. SBA will accept applications online from all eligible businesses but will only process and fund priority group applications for the first 21 days.
Priority period: Days 1-21--Priority groups include businesses owned by women, veterans, or socially/economically disadvantaged.
Open to all applications: Days 22 through fund exhaustion--SBA will accept applications from all eligible applicants and process applications in the order in which they are approved by SBA.
Eligible businesses who have experienced pandemic-related revenue loss include:
For more information, contact SBA at 1-844-279-8898 or visit the SBA website.
Chanhassen businesses can also contact Carver County CDA Director of Community and Economic Development Elise Durbin at 952-556-2778.